Assets of banned outfits frozen, Pakistan tells FATF

A Pakistani delegation on Tuesday told the Financial Action Task Force’s (FATF) Asia Pacific Group (APG) that the bank accounts and assets of banned outfits have been frozen, a local media outlet reported.

The FATF had placed Pakistan on its grey list in June last year owing to poor Anti-Money Laundering (AML) and Countering of Terrorist Financing (CTF) regulations.

A Pakistani delegation held meetings with the APG in Sydney to brief on Pakistan’s progress over the matter.

The bank accounts and assets of Jamaatud Dawa and its welfare wing the Falah-e-Insaniat Foundation have been frozen, the APG was informed.

The delegation also added that the bank accounts and assets of ISIS, Taliban, al-Qaeda, Lashkar-e-Taiba, Jaish-e-Mohammad and Haqqani Network have also been blocked.

Pakistan is also set to present a Terrorism Financing Risk Assessment report during the negotiations in Sydney.